{"id":110378,"date":"2020-11-02T17:21:29","date_gmt":"2020-11-02T17:21:29","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=300802"},"modified":"2020-11-02T17:21:29","modified_gmt":"2020-11-02T17:21:29","slug":"mavenir-scraps-ipo-plan","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/11\/02\/mavenir-scraps-ipo-plan\/","title":{"rendered":"Mavenir scraps IPO plan"},"content":{"rendered":"

<\/p>\n

\tOpen RAN vendor Mavenir cited market volatility as it dropped a planned IPO in the US, but indicated it may reattempt the move in future.<\/p>\n

In a brief statement, Mavenir explained it will \u201creassess the market conditions in the coming months\u201d and update potential investors. In a filing with the Securities and Exchange Commission (SEC), it requested regulatory fees paid for the IPO be \u201ccredited for future use\u201d.<\/p>\n

Mavenir last month outlined a plan to raise up to $100 million [1] through a public listing, stating it would use the funds to pay down debt. It subsequently amended the target amount to approximately $376 million and then to $345 million, though Nasdaq reported it later reduced this to $275 million.<\/p>\n

In an SEC filing, the company revealed Intel and NVIDIA each purchased $25 million in equity from controlling stakeholder Siris Capital Group, which were due to be converted to common shares upon completion of the IPO.<\/p>\n

Paperwork submitted to the SEC showed Mavenir recorded a loss of $81 million with revenue of $427.4 million in its fiscal year 2019 (ended 31 January). In the six months to 31 July it posted revenue of $234.8 million and a loss of $5.5 million.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/mavenir-seeks-100m-through-ipo<\/p>\n\n

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Open RAN vendor Mavenir cited market volatility as it dropped a planned IPO in the …<\/p>\n

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